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Why these 4 ASX shares have started the week on a high

In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for a positive start to the week and is up 0.3% to 6,133 points in afternoon trade.

Four shares that have climbed more than most today are listed below. Here’s why they have started the week on a high:

The Elders Ltd (ASX: ELD) share price has climbed over 3.5% to $8.40 after the agribusiness company reported its half-year results. According to the release, Elders posted an underlying half-year profit after tax of $39.7 million, up 13% on the prior corresponding period. CEO Mark Allison stated that the result reflected Elders’ commitment to the strategic Eight Point Plan and the resolve to achieve continuous high quality growth.

The GWA Group Ltd (ASX: GWA) share price has risen over 5.5% to $3.93 after announcing the sale of its Door & Access Systems business to Allegion (Australia) for $107 million. Management believes that the transaction will allow it to focus on superior solutions for water within its Bathrooms & Kitchens business. This appears to be a good deal for GWA as the book value of the Door & Access Systems business is approximately $53 million.

The Healthscope Ltd (ASX: HSO) share price has pushed 4% higher to $2.57 after the private hospital operator announced that it has received yet another unsolicited takeover offer. According to the release, Brookfield Asset Management and affiliates have offered to acquire all the shares in Healthscope by way of a scheme of arrangement at an indicative price of $2.50 cash per share. Judging by the share price reaction, the market appears to expect a bidding war to commence.

The Lifestyle Communities Limited (ASX: LIC) share price has jumped 6% to $5.47 despite there being no news out of the retirement living provider. Last week Goldman Sachs reiterated its conviction buy rating on Lifestyle Communities after its positive trading update. The broker has a $6.85 price target on the company’s shares.

Top 3 ASX Blue Chips To Buy In 2018

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Elders Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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